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Bridgeport Land Sale: Two Projects Announced

The City Council will be asked to consider proposals for the sale of land in Bridgeport Industrial Park from two companies on Monday, March 27. An RFP process resulted in two bid proposals. City staff negotiated proposals from Tritz Pallet Inc. and Monterey Management, LLC to sell a 21-acre site that includes a spec building that the city developed with a private contractor last year.

Pallet supply manufacturer, Tritz Pallet, plans to relocate and expand their business by purchasing the spec building and constructing an additional 140,000 sq. ft. building to the north. The $6 million project will add at least 25 new employees.

Logistics company, Monterey Management, LLC, will utilize 9.52 acres to develop four separate buildings to service inbound and outbound trucks servicing businesses in the area. The development will create 38 new jobs with an $11.7 million investment.  

Proposals were evaluated based on factors such as purchase price offered, jobs created or retained, size of the development including amount of land used and size of buildings to be constructed, capital investment and assessed value of the proposed development, and overall economic impact.

Development agreements for each project will be presented to the City Council in May.